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Roadmap - A Way To Read Markets

  • #5,501
  • May 24, 2023 8:43am May 24, 2023 8:43am
Quoting robysunnen
ops caricato 2 volte scusate
A fifteen minute exercise executed on 5 minute chart.
Great idea from Laura -try it for a discipline exercise as Laura suggests.
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every Saint has a past. Every Sinner has a Future
  • #5,502
  • May 24, 2023 9:00am May 24, 2023 9:00am
Last one then back to the shadows. You peeps are in good hands with Laura.
The SP500.
I am using a five minute chart for direction ( as per Laura's 15 min idea) Note 15 minute and 5 minute agree and I entered on one minute chart.
I am using 5 minute on the premise that indices are more volatile than Forex pairs.
I could be wrong but if I am right more often than wrong then I am happy.
Like Laura said -"pick your exit point" In other words ideas are not set in stone, adopt them and adapt them to suit you .
EDIT: The non "Roadmap" markings you see are pre open levels etc which form part of my adaption of the core "Roadmap."
Original "Roadmap" is the core driver for me.
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every Saint has a past. Every Sinner has a Future
  • #5,503
  • May 24, 2023 9:48am May 24, 2023 9:48am
Quoting turnip15
Last one then back to the shadows. You peeps are in good hands with Laura.
You know you'll never leave us, T
  • #5,504
  • May 24, 2023 9:49am May 24, 2023 9:49am
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  • #5,505
  • May 24, 2023 10:42am May 24, 2023 10:42am
Quoting turnip15
{quote} A fifteen minute exercise executed on 5 minute chart. Great idea from Laura -try it for a discipline exercise as Laura suggests. {image} {image}
Afore I disappear for a while.........

What the 15 tells you about the subordinate 5 minute. Would you stay or go ?
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every Saint has a past. Every Sinner has a Future
  • #5,506
  • May 24, 2023 10:43am May 24, 2023 10:43am
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  • #5,507
  • May 24, 2023 10:43am May 24, 2023 10:43am
Quoting LauraT
{quote} You know you'll never leave us, T
Ha -you know me better than I do
every Saint has a past. Every Sinner has a Future
  • #5,508
  • May 24, 2023 10:47am May 24, 2023 10:47am
Quoting turnip15
{quote} Afore I disappear for a while......... What the 15 tells you about the subordinate 5 minute. Would you stay or go ? {image} {image}
I'd be gone already. Those upper wicks are ugly.
  • #5,509
  • Edited 12:05pm May 24, 2023 11:54am | Edited 12:05pm
Quoting ianhjulberg
I think one issue was that I would take trades where even though a bar would close on the "right" side of the 15m channel, the 15m channel was on the opposite/wrong side of the 200sma in relation to the direction I was trading, and price would often bounce off the sma. {image} {image} Another issue was trading when volatility was low. This would cause situations where one bar would close outside of the channel and then one bar would close back inside the channel, and so on. This exercise seems to work better during high volatility. Another observation...
Hi Ian,
In answer to help you I made three charts of that XAUUSD trade.

2 Channels are drawn as per Laura;s setup---8 ma (Blue n Yellow) and I made up 55 (Red n White) for the comparison

No pricing is shown---it would cloud the purpose of the post. Which is where to enter/exit using Laura's roadmap.

I have purposely recreated 1 min views of that specific trade time to allow Ian to go back and review his analysis.

There are specific times to trade which is clear when in the US session, that comment applies to all markets, I have specific time for my day as opposed to all nite US sessions, so you guys have an advantage over me.

All three trades were in profit, n I say that trading 1 min charts is for those with either a lot of money or in LAURA'S case the magic touch, coupled with a toolbox of tricks.

Hope it makes sense for you, if I have exceeded my 2 cents worth of knowledge Laura can remove it.

Nite all
Ben
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  • #5,510
  • May 24, 2023 12:22pm May 24, 2023 12:22pm
Quoting btrfx1
{quote} Hi Ian, In answer to help you I made three charts of that XAUUSD trade. 2 Channels are drawn as per Laura;s setup---8 ma (Blue n Yellow) and I made up 55 (Red n White) for the comparison No pricing is shown---it would cloud the purpose of the post. Which is where to enter/exit using Laura's roadmap. I have purposely recreated 1 min views of that specific trade time to allow Ian to go back and review his analysis. There are specific times to trade which is clear when in the US session, that comment applies to all markets, I have specific...
Thank you Ben.

You always give me great analysis and critique, and give me something to think about! Very insightful!
  • #5,511
  • May 24, 2023 12:31pm May 24, 2023 12:31pm
Quoting ianhjulberg
{quote} Thank you Ben. You always give me great analysis and critique, and give me something to think about! Very insightful!
I look forward to the magic millions coming your way----stay on the right side of the road buddy otherwise you could have a head on, n that would be dangerous to your trading Capital, now where's my gold trade gone.

Ben
I don't know why the Planets follow the sun, but that doesn't mean I cannot predict them.
  • #5,512
  • Edited 4:00am May 26, 2023 3:29am | Edited 4:00am
Two losses to start the morning....
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I think these were decent channel cross entries, but just didn't work out
But its a probabilities game so I'm not upset. Just focused on the process right now. Yesterday I had 3 wins 1 loss.

I'm only limiting myself to 4 trades per day right now (two in London, two in US), so time to sit on my hands
  • #5,513
  • May 26, 2023 4:12am May 26, 2023 4:12am
Quoting ianhjulberg
Two losses to start the morning.... {image} {image} I think these were decent channel cross entries, but just didn't work out But its a probabilities game so I'm not upset. Just focused on the process right now. Yesterday I had 3 wins 1 loss. I'm only limiting myself to 4 trades per day right now (two in London, two in US), so time to sit on my hands
Great mindset, Ian - Mark would be proud

And limiting your available trades like this will really force you to question whether each opportunity you see is really worth using one of your bullets.
  • #5,514
  • May 26, 2023 4:23am May 26, 2023 4:23am
Quoting LauraT
{quote} Great mindset, Ian - Mark would be proud And limiting your available trades like this will really force you to question whether each opportunity you see is really worth using one of your bullets.
Haha I've been rewatching a lot of Mark's videos lately, trying to drill it into my brain.

I think the exercise of limiting my trades per day, while extremely difficult, may be one of the most important and effective exercises I've done.
  • #5,515
  • May 26, 2023 4:36am May 26, 2023 4:36am
Morning /afternoon All.

Where can I find these videos?

Thanks in advance
  • #5,516
  • May 26, 2023 4:50am May 26, 2023 4:50am
Quoting Silkysilv
Morning /afternoon All. Where can I find these videos? Thanks in advance
If you check youtube there are a lot of them
Here's one playlist of one of his workshops https://www.youtube.com/playlist?lis...xmkbFKXpK6_nsI
  • #5,517
  • May 26, 2023 7:45am May 26, 2023 7:45am
Quoting turnip15
Last one then back to the shadows. You peeps are in good hands with Laura. The SP500. I am using a five minute chart for direction ( as per Laura's 15 min idea) Note 15 minute and 5 minute agree and I entered on one minute chart. I am using 5 minute on the premise that indices are more volatile than Forex pairs. I could be wrong but if I am right more often than wrong then I am happy. Like Laura said -"pick your exit point" In other words ideas are not set in stone, adopt them and adapt them to suit you . EDIT: The non "Roadmap" markings you see...
Hi Turnip15! I know you like to operate in the shadows, but I do have a quick question for you. I am trying this strategy with options (SPY/SPX500). As you already know, its very volatile and not for the faint hearted. Can you please have a look at the following chart and confirm whether or not it was good entry. In summary, I am working of a 1m chart with 5m confirmation, rather than the 15m, based on volatility.

Open to suggestions from others also. Thanks
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  • #5,518
  • May 29, 2023 2:24am May 29, 2023 2:24am
Hi Laura
Only read about 15 pages so far but I was just wondering if you take bias from normal price action,maybe 4 hr/daily breakouts etc for longish term direction or do you not complicate it,ignore everything else and just use the roadmap alone for bias?
By the way,just took van tharps test and result was I possess none of the qualities of a top trader.Bit of work to do then
Loving the tidiness and simplicity of your brilliant method though Laura.Really needed some structure like this to my trading.
Reckon even I can make a bit of a go of it
Thanks so much
All the best
Jon
  • #5,519
  • May 29, 2023 3:52am May 29, 2023 3:52am
Quoting Life Oriley
Hi Laura Only read about 15 pages so far but I was just wondering if you take bias from normal price action,maybe 4 hr/daily breakouts etc for longish term direction or do you not complicate it,ignore everything else and just use the roadmap alone for bias? By the way,just took van tharps test and result was I possess none of the qualities of a top trader.Bit of work to do then Loving the tidiness and simplicity of your brilliant method though Laura.Really needed some structure like this to my trading. Reckon even I can make a bit of a go...
Hi Jon - welcome.

I don't tend to advise doing analysis of longer timeframes as I worry it might lead to more confusion than clarity for traders. However, that's not to say there isn't benefit in the practice of doing so.

The aim of the multi-timeframe SMA information is to give traders an at-a-glance idea of whether the shorter term chart is in line with longer timeframes or not. It's a simple 'over or under' binary, so it doesn't contain context - but it's pretty efficient.

Please keep in mind if you choose to go on this journey that Roadmap is my attempt at creating a framework as a starting point for traders. It shouldn't be the end point. In the beginning it will seem quite rigid, and that is deliberate. It creates discipline for a trader - gets them accustomed with following a process. The horizons expand quite a bit when traders move past that phase and aim to be more flexible in their approaches. This involves breaking a lot of the early rules, and it's healthy.

Good luck!
  • #5,520
  • May 29, 2023 4:39am May 29, 2023 4:39am
Thanks for the rapid response Laura
The framework you've set out is exactly what I need,particularly discipline in exits.
Sensible small targets is probably the hardest thing to do with a micro account as the old mind is trying to make 50 per cent a day from a tiny account to make it worthwhile instead of focussing on the process.
Excited to give it a few months with some proper discipline and a little less vodka
Cheers Laura,you're a diamond
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